Stoke Therapeutics (NASDAQ:STOK) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Stoke Therapeutics experienced a significant increase in trading volume, with approximately 2.14 million shares traded on Wednesday, a 155% increase from the previous session.
• The company's stock price rose from a previous close of $27.31 to last trade at $28.98, following analysts' forecasts and ratings that include multiple "buy" ratings.
• Stoke Therapeutics reported earnings per share of ($0.40), outperforming analysts' expectations, but the company's revenue fell short of estimates at $13.82 million compared to a forecast of $31.51 million.

Stoke Therapeutics, Inc. (NASDAQ:STOK - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 2,144,388 shares traded hands during trading, an increase of 155% from the previous session's volume of 842,185 shares.The stock last traded at $28.98 and had previously closed at $27.31.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Needham & Company LLC restated a "buy" rating and set a $22.00 price objective on shares of Stoke Therapeutics in a research note on Tuesday, July 1st. BTIG Research set a $28.00 target price on Stoke Therapeutics and gave the company a "buy" rating in a research note on Monday, August 18th. Chardan Capital reiterated a "buy" rating and set a $24.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, August 13th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Stoke Therapeutics in a research report on Wednesday. Finally, Jefferies Financial Group started coverage on shares of Stoke Therapeutics in a research note on Friday, July 18th. They set a "buy" rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $25.57.

Stoke Therapeutics Stock Performance

The firm's 50-day moving average is $19.94 and its 200 day moving average is $13.40. The firm has a market capitalization of $1.74 billion, a P/E ratio of 37.81 and a beta of 1.24.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.17. Stoke Therapeutics had a net margin of 26.25% and a return on equity of 18.32%. The company had revenue of $13.82 million for the quarter, compared to analyst estimates of $31.51 million. As a group, research analysts expect that Stoke Therapeutics, Inc. will post -2.01 EPS for the current fiscal year.

Insider Transactions at Stoke Therapeutics

In related news, General Counsel Jonathan Allan sold 10,000 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $25.07, for a total value of $250,700.00. Following the completion of the transaction, the general counsel owned 11,831 shares of the company's stock, valued at $296,603.17. This represents a 45.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Barry Ticho sold 5,501 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $19.87, for a total transaction of $109,304.87. Following the completion of the transaction, the insider owned 18,469 shares of the company's stock, valued at approximately $366,979.03. This trade represents a 22.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,180 shares of company stock valued at $3,379,406. Company insiders own 9.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its stake in shares of Stoke Therapeutics by 66.2% in the second quarter. BNP Paribas Financial Markets now owns 4,186 shares of the company's stock valued at $48,000 after buying an additional 1,668 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Stoke Therapeutics by 461.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company's stock valued at $50,000 after purchasing an additional 3,591 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Stoke Therapeutics by 1,842.0% during the first quarter. GAMMA Investing LLC now owns 5,360 shares of the company's stock valued at $36,000 after purchasing an additional 5,084 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Stoke Therapeutics by 263.3% during the second quarter. Osaic Holdings Inc. now owns 7,488 shares of the company's stock valued at $85,000 after purchasing an additional 5,427 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in shares of Stoke Therapeutics by 33.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,558 shares of the company's stock valued at $108,000 after purchasing an additional 2,384 shares in the last quarter.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.

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